Expanding Your Payment Options: Receiving International Payments for Your Shopify Store
As an online merchant, expanding your payment options to accommodate international customers can significantly boost your sales and broaden your customer base. Shopify, a leading e-commerce platform, allows you to receive payments from customers worldwide. However, many Shopify store owners often wonder if they can receive payments to a bank account outside their country of residence and what types of payments their USD WorldFirst account can receive. This article will delve into these concerns and provide comprehensive insights into receiving international payments for your Shopify store.
Receiving Payments to a Bank Account Outside Your Country of Residence
Yes, you can receive payments from your Shopify store to a bank account outside your country of residence. Shopify supports over 100 different payment gateways, many of which offer international payment services. This means you can set up a payment gateway that allows you to receive payments directly into your foreign bank account. However, it’s important to note that the availability of these payment gateways varies by country, and transaction fees may apply.
WorldFirst as a Payment Gateway
WorldFirst is a popular payment gateway that allows you to receive international payments in multiple currencies, including USD. It’s a great option for Shopify store owners who have a bank account outside their country of residence. WorldFirst offers competitive exchange rates and low transaction fees, making it a cost-effective solution for receiving international payments.
Types of Payments Your USD WorldFirst Account Can Receive
Your USD WorldFirst account can receive various types of payments. These include:
- Direct payments from customers: Customers can pay directly into your WorldFirst account. This is particularly useful for B2B transactions where customers may prefer to pay via bank transfer.
- Marketplace earnings: If you sell on marketplaces like Amazon or eBay, you can receive your earnings directly into your WorldFirst account.
- Payments from payment service providers: If you use a payment service provider like PayPal or Stripe, you can transfer your earnings to your WorldFirst account.
Setting Up WorldFirst on Your Shopify Store
To set up WorldFirst as a payment gateway on your Shopify store, you’ll need to follow these steps:
- Sign up for a WorldFirst account and get your account details.
- Log in to your Shopify admin panel.
- Go to Settings > Payment providers.
- In the ‘Alternative payments’ section, click ‘Choose alternative payment’.
- Select WorldFirst from the list.
- Enter your WorldFirst account details and click ‘Activate’.
By expanding your payment options and accommodating international payments, you can tap into new markets and grow your Shopify store. Whether you choose to use WorldFirst or another payment gateway, the key is to choose a solution that best fits your business needs and offers a seamless payment experience for your customers.